MOL announces update on Iraq exploration
Hungarian oil and gas company MOL on Monday announced initial testing results of an appraisal well in the Shaikan Block in the Kurdistan region of Iraq.
The Shaikan-4 appraisal well achieved a flow rate of 563 barrels of oil per day (bopd) and 3.65 mmscf/d of gas at a 328 psi flowing wellhead pressure in the first test. In the second test, which is ongoing, the well achieved a flow rate of 4970 bopd and 7.0 mmscf/d of gas at a 1101 psi flowing wellhead pressure with initial results indicating a 39 degree API fluid.
MOL also said it spudded another appraisal well in the Akri-Bijeel Block.
MOL’s wholly-owned unit Kalegran holds a 20% stake in the Shaikan Block. Kalegran’s stake in the Akri-Bijeel Block is 80%.
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